SDS Lumber intends to close its plywood mill in Bingen, Washington, at the end of May and layoff all 81 employees, Oregon Live reported.
Wood Markets News
US Building Permits for Multifamily Construction Fall Below Pre-Pandemic Levels
Developers obtained permits to build 12.4 multifamily housing units for every 10,000 people in the US over the past year, Redfin reported.
Stora Enso Completes Purchase of Finnish Sawmill Company Junnikkala
Stora Enso has completed its acquisition of Finnish sawmill company Junnikkala, finalizing an agreement first announced in October 2024.
US Construction Employment Trends Higher in April
Employment in the construction sector increased by 11,000 jobs in April, following a downwardly revised gain of 7,000 in March, the BLS and NAHB reported.
US Nonfarm Payroll Increases by 177,000 in April; Unemployment Steady at 4.2%
Total nonfarm payroll employment increased by 177,000 in April, closely aligned with the average monthly gain of 152,000 over the prior 12 months.
Chemical Modification of Wood Could Replace Concrete With Iron-Infused Timber
Researchers have developed a process to enhance the strength and durability of wood by infusing red oak with ferrihydrite, a naturally occurring iron oxide mineral, the Sustainability Times reported.
US Construction Spending Declines in March
Construction spending in March was estimated at a seasonally adjusted annual rate of $2,196.1 billion, down 0.5% from the revised February estimate.
US Mortgages Rates Continue to Inch Lower in the Week Ending May 1
The 30-year fixed-rate mortgage averaged 6.76%, down from last week when it averaged 6.81%, Freddie Mac reported.
US Personal Income and Outlays for March
Personal income increased 0.5% at a monthly rate in March; disposable personal income increased 0.5%; and personal consumption expenditures increased 0.7%.
CSX Reaches 5-Year Agreements With Signalmen and Boilermakers Unions
New five-year agreements with the Brotherhood of Railroad Signalmen and the International Brotherhood of Boilermakers, Iron Ship Builders, Forgers & Helpers have been ratified.